EC207 Lecture Notes - Lecture 14: Upper Middle Class, Human Development Index, Arbitrage
Document Summary
> 9 goals have been added since = 17 goals. Poverty line: minimum level of income deemed necessary to an achieve adequate standard of living. Per capita real income > ranked by levels of gni per capita. World bank ranking of countries on gni per capita: Lower middle class: gni between and upper middle class: gni between $ 4036 and , 475 oecd: gni > ,476. National levels of indebtedness: severely, moderately, less- indebted. Undp scheme: based on hdi countries < 0. 5 have a low human development <0. 8 medium at least 0. 8 > high human development. 3 problems with gdp per capita: purchasing power of usd are greater in poor than rich countries 2) real gdp per capita is a one dollar, one vote average, does not directly measure well-being. A unit of any given currency should be able to buy some quantity of goods in all countries based on law of price .
